Analyst Benjamin Cowen Predicts Continued Altcoin Struggles Against Bitcoin

Analyst Benjamin Cowen predicts Bitcoin will continue to outperform altcoins amid prevailing market conditions. He links performance to Ethereum’s struggles, explaining how waning interest in crypto results in altcoins bleeding relative to Bitcoin. Cowen suggests a shift in US monetary policy, born from current market pain, is necessary for changes that could favour altcoins in the future.

Cryptocurrency analyst Benjamin Cowen has a sobering message for altcoin investors: Bitcoin (BTC) is on track to outperform them in the near future. Cowen shared his insights with his roughly 894,000 YouTube followers, pointing to a social risk metric that measures crypto market sentiment. He suggests this metric indicates that altcoins might continue to lag behind Bitcoin.

Cowen explains how Ethereum often serves as a bellwether for the broader altcoin market. When Ethereum struggles, enthusiasm for crypto diminishes, which negatively impacts altcoin performance. Recent data shows a decline in Ethereum’s value correlated with a drop in social risk metrics. Simply put, low interest in crypto suggests that altcoins will continue to underperform relative to Bitcoin.

Looking ahead, Cowen mentions that a key factor in potentially reversing this trend for altcoins is a shift in US monetary policy. He believes that there’s a widespread desire for an altcoin season, but ongoing market conditions haven’t facilitated that. With the current climate, altcoins are seeing more losses against Bitcoin.

To trigger change, Cowen argues that the market must endure hardship first. He states, “Welcome to the pain!” He discusses how market struggles can ultimately lead to looser monetary policies, which may rekindle interest in altcoins. “The more pain we experience now, the greater the possibility for a policy shift in the future; however, pain is a necessary precursor to that change,” he added.

Cowen, while not offering a timeline on how long this pain might persist, cautions that enduring market struggles could pave the path to substantial adjustments in monetary policy sooner or later.

As always, the opinions expressed in his video serve as a personal view and not as investment advice, urging investors to exercise caution before making high-risk investments in assets like Bitcoin and other cryptocurrencies.